Estonia should thank the Soviet Union for its economic success

“The notable economic success during the first years after the Baltics gained independence was established already in the Soviet Union. At that time, Baltic States were a sort of window to the West for the Societ Union. More resources per capita arrived here than in other Soviet Republics. [-] That is why living standards here were highest in the entire Soviet Union,” Eesti Ekspress quotes what Barabaner had said.

Professors Barabaner thinks that after the money reform in 1992, the speed of economic reforms in Estonia slowed considerably and that the reserves to operate we had stored had to end sooner or later. That is what, according to him, has happened in recent months.

Barabaner isn’t optimistic about the future. According to him, the bureaucracy of the EU is stalling Estonia’s economic growth, as “according to many experts the bureaucracy is significantly more complex than it was in the Soviet Union”.

Jaan Pillesaar, the member of the smart employees group and chairman of the supervisory board of the IT company AS Helmes, said in an online interview to aripaev.ee that Estonian economy is definitely not sinking.

Only the growth is low and we have very low productivity, Pillesaar said.

According to Pillersaar, Estonia has very few smart posts (and employees) per capita to be an economically competitive country in today’s world. “The question is whether the Estonian economy is sustainable or not. I claim it is not anymore,” Pillesaar said.

Pillesaar added that the current tax structure halts the growth of Estonian economy and puts obstacles on the establishment of positions with creative thinking.